Fairness in Law and Economics: Introduction
Fairness in Law and Economics (Lee Anne Fennell & Richard H. McAdams, eds.) (Edward Elgar 2013)
18 Pages Posted: 5 Oct 2014
Date Written: August 29, 2013
This introduction, prepared for an edited volume, offers some observations on the importance — indeed, inescapability — of fairness concerns in law and economics. The relationship between fairness and the economic concept of efficiency is usually cast as an adversarial one. Rational choice economics typically describes human behavior as motivated by simple self-interest, rather than by concerns of morality, justice, or fairness. But we have found that the connections between concepts of fairness and the economic analysis of law are robust and diverse. After discussing some of these linkages, we describe the organization and content of the volume we have compiled. In it, economics engages with fairness, challenging the idea that the two concepts are alien to each other.
Keywords: fairness, law and economics
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